Daily News: May 23, 2014

JPMorgan Agents Corporate Capital Trust Term Loan

Corporate Capital Trust closed a new five-year, senior secured term loan for $400 million. In addition, Corporate Capital Trust amended its senior secured credit facility to increase its capacity from $600 million to $900 million. The committed capacity is presently at $490 million, representing lending commitments from 16 commercial banks.

JPMorgan Chase Bank served as the lead arranger and administrative agent for the loan. Joint bookrunners and co-syndication agents on the loan also included: J.P. Morgan Securities, Mizuho Bank, HSBC Securities (USA), Merrill Lynch, Barclays Bank and Greensledge Capital Markets.

The term loan bears an interest rate of LIBOR plus 3.25 percent, with a LIBOR floor of 0.75 percent, and it was issued with a 0.5 percent original issue discount. The proceeds will be used to reduce the outstanding balances on the company’s various revolving credit facilities and to fund new investments in portfolio companies.

Corporate Capital Trust is a business development company that provides individuals an opportunity to invest in privately owned American companies.